secwatch.observer — SEC 8-K summary
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Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001628280-24-021232
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ring Energy Q1 2024 crude sales top guidance; adj. net income $20.3M, FCF $15.6M
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- Crude sales 13,394 Bo/d (19,034 Boe/d), exceeding high-end guidance by 5% and 3%.
- GAAP net income $5.5M ($0.03/diluted); adjusted net income $20.3M ($0.10/diluted), excluding $17.6M unrealized derivative loss.
- LOE $10.60/Boe and capex $36.3M both below low-end guidance; Adjusted EBITDA $62.0M.
- Generated $15.6M Adjusted Free Cash Flow, 18th consecutive positive quarter; paid down $3M on credit facility.
- Provided Q2 2024 outlook and reiterated full-year 2024 guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024021232/0001628280-24-021232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024021232/rei-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-021232

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer